Economic Commentary

ECONOMY AND POLICY August 20, 2021   Chief Economist Scott Brown discusses the latest market data. Minutes of the June 27-28 Federal Open Market Committee (FOMC) meeting showed senior Fed officials to be divided on the outlook for tapering the monthly pace of asset purchases, with most officials expecting to start the process later this […]

ECONOMY AND POLICY August 13, 2021   Chief Economist Scott Brown discusses the latest market data. The Consumer Price Index rose 0.5% in July (+5.4% y/y, vs. +1.0% y/y in July 2020), up 0.3% ex-food and energy (+3.4% y/y). Prices in many of the areas that had experienced rapid inflation in recent months appeared to […]

ECONOMY AND POLICY August 13, 2021   Chief Economist Scott Brown discusses current economic conditions. Year-over-year inflation remained elevated in July, but the monthly data moderated, providing support to the view that higher inflation will be likely be transitory. Still, it’s only one month and we won’t know for sure until well into 2022. Inflation […]

ECONOMY AND POLICY August 06, 2021   Chief Economist Scott Brown discusses the latest market data. Nonfarm payrolls rose by 943,000 in the initial estimate for July (-133,000 before seasonal adjustment), following a 938,000 gain in June, boosted partly by a seasonal quirk in education (less hiring at the start of the school year resulted […]